All posts tagged Hans Wijers

An outraged public may still be baying for the blood of fat cat bankers enjoying million dollar bonuses, but in meantime the horde can satisfy itself with a notable victory after one of the world’s largest companies cut the remuneration of its top executives and promised to consult more with shareholders on the subject in future.

The salaries of Royal Dutch Shell‘s new Chief Executive and Chief Financial Officer will be 20% lower than those paid to their predecessors and will be frozen until January next year, according to proposals outlined in a letter from the chairman of Shell’s remuneration committee, Hans Wijers.

Shell has also broadened the criteria by which performance-related bonuses are assessed, shifting the emphasis from short-term measures like total shareholder return, to broader criteria including earnings per share, net cash flow from operations and oil and gas production.

This is not a spontaneous outbreak of do-gooding from the oil giant. The company suffered a huge embarrassment at its annual general meeting last year after 60% of shareholders voted against the pay deal for Shell’s bosses…